Economics and Finance

1702 Submissions

From Labor Theory of Value to Price EigenFunction ---Microfoundation of General Equilibrium

The quantitative Marxian function system is developed on the basis of the labor theory of value as the micro foundation resulting labour value function, surplus value function, Marx production function. The heterogeneous capital aggregation problem is overcome by value transformation analysis of Leontief intermediate input coefficient matrix leading to production price eigenvectors and Marx-Sraffa-Leontief General Equilibrium eigenvalues thus the details about an economic system such as the reduced organic composite of capital, the rate of profit, the surplus rate of value, the elasticity of capital output. The falling tendency of the rate of profit may not be true if the economy undergoes a general equilibrium.
Category:Economics and Finance

8 Point Executive Summary: Math Stagnations and the Economic Impacts of Mmu1 to End the Math Poverty Multiple Times Faster with Mmu1 Than Without it (Then to Achieve the Post-2015 Goals of the un Multiple Time Faster Than Without Mmu1)

Authors:Dongchan LeeComments: 8 Pages. version 6 from February 3, 2017

Highlight summary and solutions by Dongchan Lee with MMU1 for the developed or Latin countries.
1)There have been ongoing math education collapses or stagnations in most English-speaking and Latin American countries. (To see is to believe.) So I provided some data from PISA 2000-2015 and TIMSS 1995-2015 (as these two are basically the Olympics and the World Cup of the largest, international education assessments) as they are standardized & normalized.
2)According to these data of the past 20 years, which is more than enough to show the math EDU stagnations, the chances for the rapid improvements for the next 10-20 years are extremely slim no matter what the MOEs or DOEs of these countries try as these countries have spent normally 5-7% of GDP annually for education and still increasing the costs.
3)In almost all English-speaking or Latin American countries, their gains have been lopsided for the Reading skills much higher than the Math skills, especially compared to the EDU and economic power houses of 5-7 Eastern Asian countries. This has the significant economic impacts. This alone has ½-2/3 of the impacts of the EDU as a whole.
4)Education costs lost for no progress for 15-20 years is on par with the national debt size: 6% of GDP per year x 20 years ~ 120% of the annual real GDP cumulatively (for almost all the English-speaking nations, e.g. the U.S.A.) ~ is on par with the sovereign debts of these nations, and the lost costs will continue increasing over the next 10-20 years and beyond.
5)Even in just 10-15 years alone, after reducing math poverty in 2-4 years with MMU1, the surplus gains are larger than the entire annual national education cost (about 5-6% of GDP).
6)Lee’s mantra: to end the math poverty is to end the poverty: in most OECD nations, math poverty is about 20-30% of the student population. In most Latin America, 50-90% of the student population have the math poverty. They mean the lost economy of dozens of times of the current real GDP (per capita) of almost all OECD (more for Latin American countries).
Category:Economics and Finance